If realised, the transition is expected to contribute to the local economy while strengthening transparency and governance systems
business2 days ago
Vodafone Idea is not in talks to tie up with billionaire Elon Musk's satellite internet unit Starlink, the Indian telecom operator said on Tuesday, sending its shares down 5 per cent.
The clarification from Vodafone Idea came after its stock surged in the past two sessions on what business magazine BusinessWorld said were "markets betting" that Musk was looking to buy a stake in the company to help Starlink enter India.
On Monday, the Bombay Stock Exchange, where Vodafone Idea's stock is listed, had asked the company for a clarification, citing the BusinessWorld report.
"We would like to submit that the company is not in any such discussion with the named party. We are not aware of the basis of the said news item," Vodafone Idea said in a statement.
The BusinessWorld report was published on Friday after Vodafone Idea's stock surged 21 per cent. The stock jumped another 6 per cent on Monday, with trading volume on each day roughly 1.7 billion shares, the most in almost two years.
ALSO READ:
If realised, the transition is expected to contribute to the local economy while strengthening transparency and governance systems
business2 days ago
The venture addresses six key wellness dimensions
business2 days ago
Corporate Happiness Awards concludes first GCC edition
business2 days ago
Recognition highlights RAK's commitment to creating an exceptional living and working environment
business2 days ago
Systematic Investment Plan of a mutual fund is considered by most financial experts as the best way
business2 days ago
Mining major aims to invest $2 billion in significant copper projects
business2 days ago
Partnership offers Zimbabwe an opportunity to promote its investment prospects
business2 days ago
UAE government has placed SMEs at the forefront of the country’s long-term economic strategie
business2 days ago